Harbour City sales dip by 1pc  to HK$18.4b

Business | 6 Aug 2019 12:20 pm

Wharf Real Estate Investment Company (1997) said today the  group's  three malls combined for a 10 percent market share of total Hong Kong retail sales in the half-year to June.

Harbour City (including hotels) remained the key driver, contributing 73 percent of revenue and 76 percent of operating profit.

Underpinned by the retail sales productivity and positive rental reversions, total revenue (including hotels) increased by 5 percent to HK$6.16 billion and operating profit by 6 percent to HK$5.09 billion. 

Harbour City recorded steady retail sales notwithstanding challenging market conditions, the company reported.

Total sales slipped by 1 percent to HK$18.49 billion (or about HK$2,700 per square foot per month), translating into an average of over HK$100 million per day.

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